BGDV vs. DBE

Last updated Jun 4, 2026

BGDV (Bahl & Gaynor Dividend ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - BGDV is a Large Cap Blend Equities fund actively managed by Bahl & Gaynor, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. BGDV is actively managed, while DBE is passively managed. Over the past year, BGDV returned 24.61% vs 84.41% for DBE. At a correlation of -0.11, they often move in opposite directions. BGDV charges 0.45%/yr vs 0.78%/yr for DBE.

Performance

BGDV vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bahl & Gaynor Dividend ETF (BGDV) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGDV achieves a 11.64% return, which is significantly lower than DBE's 83.68% return.

BGDV

• 1D: 0.30%
• 1M: 1.79%
• YTD: 11.64%
• 6M: 11.74%
• 1Y: 24.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBE

• 1D: 2.33%
• 1M: -5.45%
• YTD: 83.68%
• 6M: 74.95%
• 1Y: 84.41%
• 3Y*: 23.42%
• 5Y*: 19.66%
• 10Y*: 12.03%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BGDV vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BGDV Bahl & Gaynor Dividend ETF	11.64%	13.74%	-1.86%
DBE Invesco DB Energy Fund	83.68%	-2.17%	2.64%

Correlation

The correlation between BGDV and DBE is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.27
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	-0.11

The correlation between BGDV and DBE shifts across timeframes, from -0.27 (1 year) to -0.11 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BGDV vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BGDV

BGDV Risk / Return Rank: 68
BGDV Sharpe Ratio Rank: 68
BGDV Sortino Ratio Rank: 70
BGDV Omega Ratio Rank: 68
BGDV Calmar Ratio Rank: 60
BGDV Martin Ratio Rank: 72

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BGDV vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bahl & Gaynor Dividend ETF (BGDV) and Invesco DB Energy Fund (DBE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BGDV	DBE	Difference
Sharpe ratio Return per unit of total volatility	2.22	2.43	-0.20
Sortino ratio Return per unit of downside risk	3.15	2.96	+0.20
Omega ratio Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio Return relative to maximum drawdown	2.94	5.89	-2.95
Martin ratio Return relative to average drawdown	13.33	11.53	+1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGDV vs. DBE - Sharpe Ratio Comparison

The current BGDV Sharpe Ratio is 2.22, which is comparable to the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of BGDV and DBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BGDV	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.43	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.09	+0.99

Drawdowns

BGDV vs. DBE - Drawdown Comparison

The maximum BGDV drawdown since its inception was -14.80%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for BGDV and DBE.

Drawdown Indicators

	BGDV	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-14.80%	-86.69%	+71.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.41%	-14.41%	+6.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	0.00%	-30.27%	+30.27%
Average Drawdown Average peak-to-trough decline	-2.15%	-57.31%	+55.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	7.35%	-5.50%

Volatility

BGDV vs. DBE - Volatility Comparison

The current volatility for Bahl & Gaynor Dividend ETF (BGDV) is 2.56%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that BGDV experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGDV	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	12.95%	-10.39%
Volatility (6M) Calculated over the trailing 6-month period	8.42%	30.86%	-22.44%
Volatility (1Y) Calculated over the trailing 1-year period	11.13%	34.97%	-23.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.13%	29.39%	-14.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.13%	28.33%	-13.20%

BGDV vs. DBE - Expense Ratio Comparison

BGDV has a 0.45% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

BGDV vs. DBE - Dividend Comparison

BGDV's dividend yield for the trailing twelve months is around 0.99%, less than DBE's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BGDV Bahl & Gaynor Dividend ETF	0.99%	1.13%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBE Invesco DB Energy Fund	2.10%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%

Frequently Asked Questions

Can I hold both BGDV and DBE in my portfolio?

BGDV and DBE have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGDV or DBE?

DBE has higher volatility (12.95%) compared to BGDV (2.56%). In terms of maximum drawdown, BGDV dropped -14.80% vs DBE's -86.69%.

Which ETF is better, BGDV or DBE?

On 1-year performance, DBE leads with 84.41% vs 24.61% for BGDV. On fees, BGDV is cheaper at 0.45% per year. On volatility, BGDV has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BGDV or DBE?

Over the 1-year period, DBE has performed better with a 84.41% return vs 24.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BGDV or DBE?

BGDV is cheaper with a 0.45% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, BGDV or DBE?

DBE has the higher dividend yield at 2.10%, compared with 0.99% for BGDV.

What is the main difference between BGDV and DBE?

BGDV is categorized as Large Cap Blend Equities, while DBE is Oil & Gas. They also come from different issuers: Bahl & Gaynor and Invesco. Their fees differ too: 0.45% for BGDV and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (2.43 vs 2.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.